Ayayal Corporation was organized on January 1, 2022. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock, and 450,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 75,000 shares of common stock for cash at $4 per share. Mar 1 Issued 4,000 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 22,000 shares of common stock for land. The asking price of the land was $85,000. The fair value of the land was $80,000. May 1 Issued 75,000 shares of common stock for cash at $4.25 per share, Aug 1 Sept. 1 Nov. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill of $35,000 for services performed in helping the company organize. Issued 10,000 shares of common stock for cash at $5 per share. Issued 1,000 shares of preferred stock for cash at $108 per share. Journalize the transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 10 Cash Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Mar. 1 Cash Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Apr. 11 Land Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Debit 300000 420000 80000 Credit 150000 150000 400000 20000 44000 36000 May 1 Cash Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Aug. 1 Organization Expense Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Sept. 1 Cash Nov 1 ~ Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Cash Preferred Stock Daid in Capital in Fed Par Deafacred Stock 318750 35000 50000 108000 150000 168750 20000 15000 20000 30000 100000 2000 (b) Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Mar. 1 Nov. 1 Preferred Stock Common Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock (c) Prepare the paid-in capital section of stockholders' equity at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) AYAYAI CORPORATION Balance Sheet (Partial) $